James Cleverly, the Minister for the Middle East and North Africa, has announced £50m UK funding for the High Impact Partnership on Climate Action (HIPCA).
The European Bank for Reconstruction and Development (EBRD) launched HIPCA on 2 November at an event during COP26 in Glasgow, with the aims of encouraging investments that prevent greenhouse gas emissions, reduce vulnerability to climate change and protect the environment.
The UK’s funding is to be used to mobilise private sector funds to support work across North Africa and the Middle East, including in Morocco, Algeria, Egypt, Tunisia, Jordan and Lebanon.
COP26 is not just about realising the climate commitments of individual governments, it’s about working together to enable all countries to meet global net zero targets and reduce the impacts of climate change. To do this we must unlock public and private investment and push for innovative and green solutions.
That’s why the UK is making a £50 million contribution to HICPA, whose work to mobilise funds and support green infrastructure projects in the Middle East and North Africa is vital for both economic growth and a greener future for the region.